Forbes: How Stripe and Stablecoins Are Reshaping Remote Work for a Global Workforce
In the rapidly evolving landscape of remote work, innovative payment solutions are playing a pivotal role in reshaping how businesses operate globally. A recent Forbes article titled “How Stripe and Stablecoins Are Rewiring Remote Work” delves into this transformation, highlighting the convergence of fintech innovations and decentralized finance (DeFi) in streamlining cross-border transactions. The Rise […]
Shaktikanta Das Departs RBI, Stresses Potential of Digital Rupee for India’s Economy
On his final day as Governor of the Reserve Bank of India (RBI), Shaktikanta Das outlined his vision for India’s economic transformation through the adoption of the central bank digital currency (CBDC), the digital rupee. In his farewell address on 10th December, Das reflected on his six-year tenure, during which he championed technological innovation. Notable […]
Digital Rupiah: Bank Indonesia Evaluates R3’s Corda and Ethereum-Based Hyperledger Besu for CBDC Infrastructure
Bank Indonesia has released new findings as part of its three-phase plan to develop a central bank digital currency (CBDC) for the digital rupiah. The central bank’s latest work highlights a technical proof of concept (PoC) for wholesale CBDC (wCBDC), evaluating two blockchain technologies: R3’s Corda and the Ethereum-based Hyperledger Besu. While no definitive choice […]
Putin Backs Bitcoin as Russia Advances Digital Asset Taxes and Mining Growth
Russian President Vladimir Putin has signed a law classifying digital assets as property for taxation purposes, offering much-needed clarity to Russia’s burgeoning digital sector. This legislation, which amends Russia’s Tax Code, exempts profits in the sector from value-added tax while subjecting them to income tax. Individual earnings below 2.4 million roubles will be taxed at […]
Central Bank of the Philippines Completes Testing for Project Agila: Wholesale CBDC
The Bangko Sentral ng Pilipinas (BSP) has successfully concluded testing for Project Agila, a pioneering initiative aimed at enabling financial institutions (FIs) to conduct fund transfers seamlessly, even outside traditional business hours. This includes evenings, weekends, and holidays. The innovative project leverages open-source distributed ledger technology (DLT) through Oracle Cloud Infrastructure, setting the stage for […]
Central Bank Coalition Share Legal and System Design Considerations of Retail CBDCs
A coalition of seven central banks – the Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, the Federal Reserve Board of Governors, Sveriges Riksbank, and the Swiss National Bank – in collaboration with the Bank for International Settlements (BIS), has been examining key aspects of central bank digital […]
China Enhances CBDC Offline Wallet with Touch, Visual, and Scan Capabilities
China has consistently prioritised inclusivity in its development of a central bank digital currency (CBDC). With the digital RMB, or eCNY, the country aims to make the currency accessible to those who may lack smartphones or experience unreliable internet connectivity. This inclusivity is particularly important for elderly users and tourists who might prefer not to […]
China’s Digital Yuan CBDC Gains Momentum with Huawei and IATA Integrations
In a significant leap for China’s central bank digital currency (CBDC), the digital yuan is now finding integration across diverse sectors, from mobile operating systems to global aviation. Huawei has embedded the digital yuan directly into its Harmony OS, allowing seamless in-app payments with the CBDC, while the International Air Transport Association (IATA) has announced […]
BIS Departure from mBridge: A Strategic Exit or a Political Move?
Last week, the Bank for International Settlements (BIS) announced its exit from the mBridge cross-border payments project, a significant initiative in the field of central bank digital currencies (CBDCs). Agustín Carstens, BIS General Manager, confirmed the decision at the Santander International Banking Conference, attributing the move to the project’s progress rather than political pressures or […]
Stripe Acquires Stablecoin Platform Bridge for $1.1 Billion, Signalling Major Step into Digital Assets
In a landmark acquisition, Stripe, the global payments processor, has acquired stablecoin platform Bridge for $1.1 billion. This acquisition, confirmed by Stripe and Bridge, marks Stripe’s largest acquisition to date and one of the most significant in the cryptocurrency sector. Bridge, founded by entrepreneurs Sean Yu and Zach Abrams, has emerged as a prominent software […]
